Forums

HVLR vs LVHR prospecting

Post a reply


Enter the code exactly as it appears. All letters are case insensitive, there is no zero.
   

Expand view Topic review: HVLR vs LVHR prospecting

HVLR vs LVHR prospecting

Post by pawmarks on Sun Nov 20, 2011 4:04 am

First, the preliminaries

HVLR: High Volume, Low Return

LVHR: Low Volume, High Return

The first method of prospecting, HVLR, which is the more advanced cousin of how the industry somehow managed to teach people for well over 50 years (LVLR) - an exceptionally painful, NFL (no friends left) process that rarely lead to recruiting dominance or serious organizational growth, is what we see to today all over the place.

I call it "shotgun prospecting" because except in the rarest of cases, it is almost entirely NON-TARGETED lead generation. Sure, choosing your demographic carefully for deploying Google adwords or Facebook PPV makes it more targeted, at least in theory. But the vast majority of high volume lead generation, including offline methods such as direct mail, media buying, and phone broadcasting are still just that: NON-targeted. Unless you allow your professional sales funnel to do all the heavy sifting and sorting for you along the way, you are highly likely to wind up with a bunch of poorly-qualified prospects wasting your time (and therefore money)

The second method - LVHR or Low Volume High Return prospecting appears initially to fly in the face of conventional wisdom (it's a NUMBERS game, stupid!)

Granted. Fewer leads can, and often do mean fewer recruits. But hold on. There is a method to this madness that I call LVHR. What you are doing when deploying LVHR is shifting the burden of proof that a lead is qualified from an automated process (ie. your sales funnel), which, frankly is really really stupid (not the funnel's existence, just it's raw intelligence at being able to PICK LEADS OUT OF A LINEUP) to a human brain, that evaluates a candidate. Much like an executive recruiter would when handed a pile of resumes.

This paradigm shift rarely takes place until and unless you make the mental switch in your head that you do not need your prospect. Instead, they need you!

Ok, so what just happened here? Similar to the exec recruiter with that big pile of resumes, you have also assumed the exact same mindset - that you are going to CHOOSE a partner, rather than them choosing you. And, if you are a really advanced recruiter, you are going to choose based on a set of pre-determined criteria. In the brick and mortar business world, that might be education level attained, projects completed, attestations by previous bosses and even heads of companies, satisfied customers or channel partners - all prior to the decision to take them on as a partner!

How is this different from the HVLR model? I don't think there could be any more daylight between the two. The older "take-what-you-can-get" approach, in which everyone carries around a small mirror, for inserting under a prospect's nose in order to determine if they are still breathing, followed by that all-important question series:

a. are you over 18? and
b. do you have a credit card?

is vastly different from sifting and sorting through a pile of highly-talented resumes and choosing the one that best matches up their personality, your personality, the business model you are allegedly going to engage in together, and the special personal timing (for both parties)

What makes the LVHR model tick these days? Think about it: the Internet is literally AWASH with intel on people's lives, needs, talents, proclivities for enduring pain, ability to express themselves, propensity to socialize, etc. All you have to do is wander around, taking notes, and you have all the ammo you need to carefully select a team that meets YOUR NEEDS, while at the same time providing a valuable service to those who QUALIFY TO RECEIVE IT FROM YOU.

Top

cron